The increase in the currency ratio during World War II was due to
A) bank panics.
B) a drop in the rate of interest paid on checking deposits.
C) the spread of ATMs.
D) high taxes and illegal activities.
D
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An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.
The user cost of extracting a nonrenewable resource is:
A. inversely related to how much of the resource remains. B. directly related to how much of the resource remains. C. unrelated to how much of the resource remains. D. inversely related to the expected future price of the resource.
Unions will be more successful where
A. it is easy for competitors to enter the industry. B. globalization is less extensive. C. it is easy for the company to hire replacement workers. D. the state government has passed a "right-to-work" law.
The law of diminishing marginal product is a statement
A) that concerns changes in variable input and changes in output. B) that concerns the long run. C) that concerns changes in profits. D) that relates to plant size.